Why is Omnichannel Retail so Valuable?

The majority of participants, 73%, used multiple channels during their shopping journey. These are omnichannel customers, and they’re the most valuable customers you can have.

Here’s why:

They spent on average 4% more on every shopping occasion in the store

They spent on average 10% more online than single-channel customers

But the most surprising part of the study is this:

Customers who used 4+ shopping channels spent 9% more in the store, on average, than those who only used one channel.

There’s a common worry amongst retailers that the lack of loyalty to a specific brand or ecommerce site can hurt their sales in the long-term.

But HBR’s study reveals that the opposite is true:

When participants conducted research on the retailer’s website or the website of other retailers, they spent 13% more in-store than other omnichannel shoppers.

In fact, within 6 months of an omnichannel shopping experience, these customers had a 23% higher rate of repeat shopping at their favorite retailer’s store and were more likely to recommend that brand to their family and friends.

Are you starting to see the power of omnichannel ecommerce?

By delivering this experience correctly, you’ll have customers who spend more, who become more loyal, and who spread your brand through word-of-mouth more often.

Now, you just need to know how to create an omnichannel experience.

How do You Implement an Effective Omnichannel Ecommerce Strategy?

Omnichannel ecommerce is still very young. The suggestions we lay out below are simply ways to begin designing your strategy around some proven principles.

To create the best omnichannel strategy, you have to observe what works for you, what works for your customers, and what’s not working at all and needs to change.

Focus on measuring and testing, not setting and forgetting.

To do that, here are a few ways to begin:

Sell on Every Platform

You don’t have an omnichannel ecommerce strategy unless you’re selling everywhere, all the time, on every device and every platform.

OK, you probably can’t sell on every platform, but you can probably sell on more platforms than you are currently.

Just selling on your website and Amazon are not going to cut it.

Ideally, you want to be on all platforms that measurably increase your social media sales, online sales, and in-store sales.

Without this critical tool, you could quickly lose track of how much inventory you have in stock, leading to stockouts, which would result in a loss of revenue and customers.

With this tool, you’ll always know how much stock you have and how much you need, automating your stocktaking process, streamlining your supply chain, and improving your ability scale your business online.

If you want to reap the benefits of omnichannel ecommerce, Then we suggest using a proven inventory management tool.

From sending a purchase order to receiving your shipment, you can manage the whole process in the cloud, from anywhere in the world. You can manage all transactions across all sales channels in real-time, generating up-to-the-minute sales reports. And, you can update your product information in all your ecommerce platforms simultaneously. Our cloud-based inventory management software is the tool you need to optimize your omnichannel strategy.

About Company

DEAR systems is a software development company established by an international group of financial advisors and software developers. After compiling a comprehensive list of the needs and wishes of business owners and executives across the spectrum of business, we applied our years of experience in creating a comprehensive, understandable, affordable, cloud based inventory system that integrates with industry standard accounting systems.